Project hub ‘could unlock investment for Africa’

26 Jul 17

The New Partnership for Africa’s Development (NEPAD) has called for a regional project information hub to stimulate investment in Africa.

NEPAD’s Infrastructure Project Preparation Facility (IPPF) proposed that each country should be linked to a central hub to unlock bankable investment opportunities with information about projects accessible to potential investors.

IPPF co-ordinator Shem Simuyemba explained that the initiative would show the financial-readiness of projects in terms of the key returns that investors seek.

He said that, unlike other parts of the world, the emergence of an indigenous class of trans-continental investors was only just the beginning for Africa, partly because of a history of state monopoly companies, which had crowded out the private sector and stifled its growth.

Simuyemba also called for liberalisation of sectors still dominated by governments, such as information technology, energy generation and transport.

He also stressed the importance of regional markets, which he said should be created through policy reforms, incentives and strengthened partnerships.

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